What is Budget insurance:
It's the amount you have to pay when you claim - the uninsured portion of your loss. This is to prevent clients from submitting fraudulent claims as well as minor claims. It also helps to keep the premiums low. You will have to pay an excess when you submit a claim, regardless of who was to blame for the accident. In most cases a fixed excess is offered instead of an excess that is a percentage of the loss. Effort is made to recover the excess from the guilty third party, and is done free of charge. To reduce your excess, a higher premium must be paid.
Paying excess when your not to blame for the accident:
Whenever a claim is made, an excess is payable since the administrative cost of the claim is the same. The budget insuranceexcess is the first payment that needs to be made in the claim – regardless of whose fault the accident was. If you were not to blame, you can claim the amount back from the other party. This can unfortunately take a long time, especially is the other party wasn't insured. Our legal recoveries department will do their utmost to recover your excess from the other party - free of charge.
In certain circumstances the excess cannot be recovered, such as:
the third party can't be traced
the third party doesn't have any income or assets to attach
the insured doesn't have any third party details
the legal costs are more than the recovery costs
the merits of the claim don't justify the recovery.
So stop wasting time, and starting budgeting on your insurance premiums.
|
